Overview of the global cloud security market in the retail sector 

Market research analysts at Technavio have predicted that the global cloud security market in the retail sector will grow impressively during the predicted period and will post a CAGR of almost 21% by 2020. This market research analysis identifies the increasing need to reduce the total cost of ownership (TCO) as one of the primary growth factors for the cloud-based security market. In conventional on-site software, TCO includes the costs for software implementation, software licensing, and also the high maintenance cost. Whereas in cloud services, vendors are responsible for software maintenance, backup, implementation, and regular updates, which substantially reduces operational costs by eliminating the need for IT personnel. Cloud security software is based on the pay-per-use model where customers pay according to their use of services. Also, it offers a wide range of connection options and eliminates the need for any connection-related expenditure.

The constantly changing business scenarios will induce organizations to develop a mobile workforce to stay competitive in the market. This will increase the need for flexible IT services. Also, the changes in work locations, time zone barriers, and the need to access official and confidential data from remote locations will increase the adoption of cloud services. As a result, IT service providers will start providing customized cloud services for mobile devices such as smartphones and tablet computers, which in turn, will demand the need for advanced cloud security solutions.

Competitive landscape and key vendors

The market is characterized by the presence of several well-diversified regional and international cloud security vendors. As the international players are increasing their foothold in the market, the regional vendors are finding it difficult to compete with them. The coming years will also witness established cloud security vendors acquiring smaller vendors to improve their product portfolio and also increase their share of the market. Leading cloud security providers will also invest in their R&D to develop cloud-based security tools with features such as access control and strong device security, which will help them gain a competitive edge over their competitors.

The leading vendors in the market are -

• Cisco
• IBM
• Intel (McAfee)
• Symantec
• Trend Micro

The other prominent vendors in the market are CA Technologies, Check Point Software Technologies, CipherCloud, Clearswift, CloudPassage, CSC, Dell Secure Works, Fortinet, Microsoft, Netskope, Okta, SafeNet, Sophos, Symplified, and Zscaler.

Segmentation by solutions and analysis of the cloud security market in the retail sector 

• DLP (data loss prevention)
• E-mail security
• IDS/IPS (intrusion detection system/intrusion prevention system)
• IAM (identity and access management)

Accounting for more than 37% of the market shares, the IAM market segment dominated the industry during 2015. The requirement for transferring large amounts of data, the increased use of mobile devices, and the growing need for high-level security of data and retailer identity will fuel the growth of the market in this segment.

Geographical segmentation and analysis of the cloud security market in the retail sector

• Americas
• APAC
• EMEA

In terms of geography, the Americas will account for more than 49% shares of the global cloud security market in the retail sector by 2020 and will also dominate this market throughout the forecast period. This mainly attributes to the presence of several global financial institutions and large companies and the availability of adequate business and IT infrastructure in the region. Moreover, the increasing number of cyber-attacks on enterprise cloud services will also have a positive impact on the growth of the cloud security services market in this region.

Key questions answered in the report include

• What will the cloud security market size and the growth rate be in 2020?
• What are the key factors driving the global cloud security market in the retail sector?
• What are the key market trends impacting the growth of the global cloud security market in the retail sector?
• What are the challenges to market growth?
• Who are the key vendors in the global cloud security market in the retail sector?
• What are the market opportunities and threats faced by the vendors in the global cloud security market in the retail sector?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global cloud security market in the retail sector?

Technavio also offers customization on reports based on specific client requirement.

Related reports

• Global Cloud Security Market 2016-2020
• Global Hybrid Cloud Services Market 2016-2020
• Global Cloud-Based Managed Services Market 2016-2020

Cloud security provides security to cloud-based services or cloud computing architectures. Cloud security focusses on the safety of critical parameters such as compliance, governance, data protection, architecture. This security solution can either be used independently or with a host of other solutions and products. In the retail sector, it offers several features including encryption, IAM, endpoint monitoring, vulnerability scanning, intrusion detection, and application and messaging security. It also helps in protecting cloud content from unauthorized access and data theft. 

The report, global cloud security market in the retail sector, is part of Technavio’s ICT research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as automatic identification system, cloud computing, data center, enterprise application, IT security, ITO and BPO, and product lifecycle management. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.